SML - Synlait

[Minimoke]

WOW, that's what I call a serious haircut ! 

I'm surprised he didnt sell down more.

[Basil]

Rather sad really.

But he now wants the shares to go to zero?

I wouldn't want to be a psychologist reading his head after a loss like that but maybe he's so annoyed at being sidelined he wants to adopt a scorched earth approach?

[allfromacell]

I'd rather lose my $500 gamble than let the CCP controlled Bright take over in this fashion.

I'll be voting NO (as if it matters), lets liquidate this mother.

[Breezy]

I'd rather lose my $500 gamble than let the CCP controlled Bright take over in this fashion.

I'll be voting NO (as if it matters), lets liquidate this mother.

Just had a call from Computershare AU (If it was them) making me aware of the special meeting and making sure I put my vote in on time and to arrange forms if needed, they also asked whether i would be voting for the resolutions. Sounds dicey and have never had this happen before ever.

[Minimoke]

Just had a call from Computershare AU (If it was them) making me aware of the special meeting and making sure I put my vote in on time and to arrange forms if needed, they also asked whether i would be voting for the resolutions. Sounds dicey and have never had this happen before ever.

That sounds odd. Someone got hold of the share register?

[BlackPeter]

Just had a call from Computershare AU (If it was them) making me aware of the special meeting and making sure I put my vote in on time and to arrange forms if needed, they also asked whether i would be voting for the resolutions. Sounds dicey and have never had this happen before ever.

Happened to me before (with other companies) with SH-votes when the outcome was open and some stakeholder very interested, so - quite probably legit.

[BlackPeter]

That sounds odd. Someone got hold of the share register?

As indicated above - not odd, but quite usual if there are existential votes with unclear outcome.

However - getting hold of the shareholder register is not difficult. You just need to give them a legit reason (e.g. contact them regarding the outcome of an important vote, or to introduce yourself as potential board candidate or similar) and they have to give you the register. Absolutely legit.

[Teitei]

Have received calls from Computershare Australia - last one being a reminder to put in my vote to delist EVO from NZX and list only on ASX. 

[Minimoke]

"you might like your 7% interest with no gain over 5 years for a high risk bond. But I reckon at times there are better opportunities."

Nothing abusive about calling out a Class A moron who would not know how to assess risk even if it fell on his face. I do not suffer fools.

Admin may choose to disagree again and is amenable to suffer fools like you, in which case, I am happy to leave this forum in the interests of better things.

Suffer fools in life and you become the fool.

We should be able to agree the bonds were unsecured and subordinated - so in 2019 "High risk" SP was around $13 at the time

May 2023  Farmers Weekly were saying "Synlait 11.25% bond yield a flashing red light"

On another forum, in 2023 posters were saying "Market's treating Synlait bonds like junk bonds, a nice 15.25% yield!"

[Breezy]

We should be able to agree the bonds were unsecured and subordinated - so in 2019 "High risk" SP was around $13 at the time

May 2023  Farmers Weekly were saying "Synlait 11.25% bond yield a flashing red light"

On another forum, in 2023 posters were saying "Market's treating Synlait bonds like junk bonds, a nice 15.25% yield!"

Good on you for being able to rise above personal insults and converse about the topic at hand.

[Minimoke]

Just had a call from Computershare AU (If it was them) making me aware of the special meeting and making sure I put my vote in on time and to arrange forms if needed, they also asked whether i would be voting for the resolutions. Sounds dicey and have never had this happen before ever.

I've just had a call from them too - from melbourne.

This must be costing some one a bit. I was only on the register for a few days and obviously they don't have the most up to date version.

They are keen to get hold of shareholders - they called me twice.

[Left Field]

Penno's legal challenge fails.....

https://api.nzx.com/public/announcement/437562/attachment/426607/437562-426607.pdf

[Minimoke]

Penno's legal challenge fails.....

https://api.nzx.com/public/announcement/437562/attachment/426607/437562-426607.pdf

Onewards and upwards as the new version of Synlait evolves.

[Basil]

I reckon there's a good chance Penno will seek a high court injunction.  This isn't over yet because Penno is right, this is an "in principle takeover" and minority shareholders, who actually make up the largest shareholding class with 41% current holding, have been treated with complete disdain and contempt.

[bulltrap]

I reckon there's a good chance Penno will seek a high court injunction.  This isn't over yet because Penno is right, this is an "in principle takeover" and minority shareholders, who actually make up the largest shareholding class with 41% current holding, have been treated with complete disdain and contempt.

Quite so. It's tempting to let schadenfreude or whatever cloud the discussion, but every one of Penno's SML shares should be treated as equal to one belonging to A2, or yours or mine (supposing we had any). Same rights, obligations and opportunities.

Companies are IMHO being given far too much freedom in how they're structuring CRs and equity issues. 'Mate's rates' deals should be off the table, and definitely not under it. Imagine if dividends were issued the same way, just to the big boys. Think of the children.